DNV Talks Energy

FACE THE FACTS: Energy finance: the future is digital

In 2018, global investment in energy totalled US $1.8 trillion, with investment in renewable energy exceeding US $332 billion. Carlos Albero, Global Finance Segment Leader at DNV Energy Systems, explores how embracing digitalization and embedding it in decision-making can enable businesses to become more profitable. While recent news has shown countries around the world setting ambitious new targets to help combat climate change, renewable energy investors and developers are increasingly turning to new forms of financing and digital technology to build effective investment strategies. But how is digitalization really transforming the energy finance sector?

FACE THE FACTS: Energizing the diversity debate

The renewable energy sector is undoubtedly modern. It’s powered by the latest technology and good for the planet. It’s also a source of a significant number of jobs. But, how is it performing in terms of diversity? Katy Briggs, Global Service Area Leader for Renewable Advisory Services at DNV Energy Systems, energizes the diversity debate by discussing her own experiences in the industry – casting an expert eye over the opportunities for women working in, or trying to get into, the renewable energy sector. In the latest episode of this new series, Face the Facts, Katy shares her opinion and insight on the most recent major global news stories about diversity and the energy transition. In Africa and Asia, new census data shows that rural electrification using distributed renewable energy is going to create a significant number of new jobs by 2023. However, women are filling just one-fourth of these jobs, while in the US, women make up only 13% of the non-fossil power sector workforce. With the issue of diversity dominating headlines and becoming a global talking point for communities, business leaders and governments, it’s time to face the facts.

FACE THE FACTS: The road to resilience

Michael Liebreich, Chairman and CEO of Liebreich Associates, and Founder of Bloomberg New Energy Finance, explores why businesses, investors, communities and individuals need to “act now” to prevent global warming from reaching dangerous levels and to create resilient industries, infrastructure and cities. In the run up to Storm Barry, there was huge disruption around the Gulf of Mexico, with people facing heavy rains and winds, damage to property and loss of power. Oil production in the region was cut by a third, causing prices to rise by 4.5%. This is just one example of how natural disasters are impacting our world today. What do businesses, societies and governments need to do to become more resilient against the climate change emergency?

FACE THE FACTS: Energy - The new space race

In the 1950s, America and Russia went head-to-head to dominate space travel. Today its China and the US who are setting out to control the emerging global market around energy storage. It’s a fascinating competition – with huge rewards for whoever wins. Jason Goodhand, Global Business Lead for Energy Storage at DNV Energy Systems, assesses the two main players in this Energy Race, and looks ahead to who may win. Will it be China? The US? Or the millions of energy consumers around the world? In the latest episode of this new series, Face the Facts, Jason shares his opinion and insight on the most recent major global news stories about the energy transition. In the US, a large Southeastern Utility has unveiled plans for five gigawatts of energy storage over the next 20 years. Meanwhile over in China, the World Bank has just approved a loan for 750 million US dollars, to pay for a new energy storage accelerator programme. Now the Energy Race is on, it’s time to face the facts.

FACE THE FACTS: Clean energy vs cyber crime

Is the fear of a major cyber-attack holding energy companies back from connecting to more smart technologies? And what does this mean for the growing risk of climate emergency? Mathias Steck, DNV Energy System's Executive Vice President and Regional Manager for the Digital Hub Asia, analyses the link between climate emergency and cyber security for energy companies, and what business and society needs to do to future-proof against the impact of both. In the first episode of this new series, Face the Facts, Mathias shares his opinion and insight on the week’s most significant global news stories. The UN is calling on governments to stop building new coal plants by the end of 2020. And 75% of energy companies are avoiding greater connectivity to smart technologies – because of fears around cyber security. Now that climate change has officially been upgraded to climate emergency, it’s time to face the facts.

New technologies and the Internet of Things

Is the Internet of Things (IoT) the key to the energy transition? Colin Yu, VP of Envision Digital, discusses how IoT can enable our sustainable future. He sees synergy replacing cost as the main priority of energy providers and considers how IoT is evolving.
In the final episode of this series, Colin shares his experience of connected renewable energy sources and systems, drawing on Envision’s expertise in China to explain how deep knowledge of both the technology and local policy are crucial to the successful implementation of data driven – smart energy grids. He looks at how data sharing must become more widespread to unlock the value of digitalization on a global scale and considers how learnings can be transferable across international borders without running into regulatory issues. Finally, Colin explains why, like DNV, Envision has chosen Singapore as its digital hub, discussing the characteristics of the local economy and the government’s support for new technology in its quest to make the island state the world’s most livable city.
*This episode was recorded live at the Singapore International Energy Week 2018.

Disruptive innovation & the traditional energy company

In a landscape defined by disruptors, what is the role of an energy company with a heritage in traditional energies? Wouter van Wersch, Vice President of General Electric (GE), looks at how they fit into the changing energy world, and considers the specific needs of Southeast Asia.
In this insightful episode, we discuss the progress of the energy transition in the ASEAN region and GE’s role in developing the infrastructure needed to meet the region’s huge demand for electricity. With its mix of markets from the mature to those where millions have no electricity, Wouter outlines the pressing need for improved infrastructure in Asia, where investment is needed not only in generation but also transmission and new technology. He describes how smart data can reduce the environmental impact of traditional energy sources deployed alongside renewables. Finally, he highlights how governments in the region can support variable grids and other elements of the energy transition through the introduction of incentives and new regulatory frameworks.
*This episode was recorded live at the Singapore International Energy Week 2018.

From niche to mainstream: how wind is winning

Ben Backwell, CEO of the Global Wind Energy Council, highlights the extraordinary growth in the wind industry globally, and how an industry that was once seen as niche and expensive has been transformed into one that is both mainstream and cost-effective.
In this enlightening episode, Ben reveals the advances in technology that have helped to establish wind as a credible alternative to fossil fuels. He also describes how those same technologies have enabled a ‘full system approach’ where wind, solar and hydro complement each other to counteract the challenges traditionally associated with variable energy sources. He outlines why, how and where other renewable sources can work best alongside wind in this way, reducing the need for storage and the reliance on fossil fuel baselines in energy grids. However, he cautions that much of the world, including the Asia Pacific region, has a great deal to do before the infrastructure and regulations needed to support this ‘complementarity’ are in place.
*This episode was recorded live at the Singapore International Energy Week 2018.

New energies and unparalleled transformation

What is the role of the energy sector in the energy transition? DNV GL hears from Duncan van Bergen, Vice President of Shell New Energies, about Shell’s vision for the future and the scale of transformation required.
In this engaging episode, Duncan discusses the dual challenges of growing energy demand and a lower carbon future, with the population heading for 10 billion by 2070. Duncan tells us how Shell is investing in electricity retail, decentralized power, new fuels and electric mobility. He addresses the urgency issue raised by the IPCC report and highlights the unparalleled transformation needed to meet it. Duncan shares Shell’s ‘Sky’ scenario work, showing that a target of well below 2°C is possible and is therefore imperative that we try to achieve it. He shares examples of the scale of the challenge ahead and points to how Shell will manage the transformation with industry partnerships. Finally, Duncan tells us how he sees for the sector, both a mixture of daunting responsibility and business opportunities in the future.
*This episode was recorded live at the Singapore International Energy Week 2018.

Investing in the energy transition

Why should investors be interested in the energy industry? Carlos Albero, Global Finance Segment Leader for DNV Energy Systems, looks at new markets created by the energy transition.
In this insightful episode, Carlos explains why the energy sector, with its forecasted exponential growth in electrification, is growing increasingly attractive to investors. He describes the unique nature of the market and the critical importance of regulatory frameworks, technological maturity and market revenue projections when making investment decisions, before giving us some investment advice of his own. He also talks about the positive role competitive energy markets can play in the energy transition but highlights the work still to be done, particularly in emerging economies, before national grids can support the energy market of the future.
*This episode was recorded live at the Singapore International Energy Week 2018.